Missing tech billionaire 'cooperating' in investigation: company

The missing billionaire chairman of investment bank China Renaissance is currently "cooperating" with an investigation by authorities, his company said.

Last week's disappearance of Bao Fan — a major figure in the Chinese tech industry and a key player in the emergence of various domestic Internet startups — sent his company's share price plunging.

His Hong Kong-listed company said in a filing dated on Sunday that it was now "aware that Mr Bao is currently cooperating in an investigation being carried out by certain authorities" on the Chinese mainland.

"The company will duly cooperate and assist with any lawful request from the relevant PRC authorities, if and when made," it added.

The firm did not provide further details about the nature of the investigation.

China Renaissance has developed into a global financial institution, with more than 700 employees and offices in Beijing, Shanghai, Hong Kong, Singapore and New York.